For Traders

Analytical Reviews

Technical analysis

24.01.202205:30 Forex Analysis & Reviews: Forecast for USD/JPY on January 24, 2022

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Last Friday, the Japanese yen successfully overcame the support of the balance indicator line on the daily scale chart, and now the 113.26 target has become more tangible. Consolidating under the level, namely under the embedded line of the price channel of the monthly timeframe, will allow the price to develop a movement towards the underlying line of the price channel in the area of 110.88. The signal line of the Marlin Oscillator is going down in the negative area.

USD/JPY is also in full downward position on the 4-hour chart; the price settled under the balance and MACD indicator lines, the Marlin Oscillator is in the downward trend zone. We are waiting for the price at the designated target of 113.26.

Consolidating above the MACD line (114.37) will be the first condition for the trend to reverse into further growth.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.